Chilmark, Salisbury, SP3

Office
For Sale ££4,250,000 EXCESS

Key Features

Located 98 miles south west of London and 13 miles west of Salisbury, just off the A303
Situated in an Area of Outstanding Natural Beauty
Freehold
64.3 acre site area plus Mineral Rights over an additional 47.4 acres
40 buildings / units on the site, totalling 84,267 sq. ft.
c. 30.387 sq. ft. occupied / available to let accommodation
Conversion and development potential of 11 vacant buildings and 2 parcels of land
23 tenants
Total current income - £227,733 per annum, with excellent growth potential
Offers sought in excess of £4,250,000, subject to contract and exclusive of VAT

About This Property

FREEHOLD MIXED-USE COMMERCIAL INVESTMENT
WITH COMMERCIAL AND RESIDENTIAL DEVELOPMENT POTENTIAL

Investment Summary
Chilmark Estates is a rare and unique opportunity to acquire a former 64.3 acre RAF facility in the heart of the Wiltshire countryside, now successfully operating as a mixed-use income generating property.

Chilmark Estates offers significant commercial and residential refurbishment and development opportunities. The property will be of interest to an entrepreneurial purchaser looking to own a significant landholding in Wiltshire and invest in the property to create additional rental income and materially enhance the capital value of the asset.

Tenure
Freehold.
The Estate is held under 3 freehold Titles totalling 64.3 acres as shown pink on the site plan, namely:

• WT229335, comprising 46 acres at the northern end of the overall property.

• WT268518, comprising 10.3 acres at the southern end of the overall property and including the Engine Shed, Ham Cross units and the transfer Station.

• WT274440, comprising 8 acres in the middle section of the property and including The Proof Yard The Mineral Rights benefitting the property are held under Title WT 229335 and extend
over 47.4 acres of land, known as Ladydown (shaded blue on the plan).

Tenancy Details
The property is let to 23 tenants. The total current income is £227,733 per annum.

A tenancy schedule is at the rear of this brochure.

Environmental Overview
A Stage 1 Environmental Assessment and Flood Risk Assessment has been carried out by Glanville Group.

The Stage 1 Assessment concludes the environmental risk is Low to Medium.

The Flood Risk Assessment concludes the elements of Chilmark Estates which are at risk of fluvial flooding are constrained closely by the site?s topography and that future development of the site should not be constrained.

An Asbestos Management Survey Report has been undertaken by Casa Environmental.

The benefit of the Environmental, Flood Risk and Asbestos Surveys are assignable to the purchaser and the Reports are included in the Data Room.

Site of Special Scientific Interest
An Agreement between Chilmark Estates and Natural England is in place, mostly covering the woodland and former mining areas in the northern part of the property.

This Agreement is included in the Data Room.

Planning
A Planning Advice Statement has been prepared by Brimble Lea, Planning Consultants.

The Statement sets out the current planning policy position for the area in which Chilmark Estates is situated. It also sets out a planning overview in respect of the development potential of elements of Chilmark Estates as set out in this sale brochure.

The Planning Advice Statement is located in the Data Room.

EPCs
All the occupied and buildings currently capable of occupation have an EPC where required.

The EPC Ratings vary between D76 and G 256 and the Certificates are included in the Data Room.

Business Rates
Rateable Values for the individual buildings are available on request.

The Rateable Values on smaller units fall below the Rateable Value thresholds and eligible occupiers may be eligible to take advantage of 100% small Business Rates Relief currently available.

Estate Service Charge
The Estate Service Charge for the current year is approx. £19,500. This is recovered from occupiers in addition to their rental payments.

Covenant and Covid Rental Payment Performance
Chilmark Estates is let to a variety of tenant types offering differing financial profiles.

Dun & Bradstreet Reports, where available, are contained in the Data Room.

Chilmark Estates has shown a solid rental payment profile throughout the vendors ownership. A summary of the rental income received and service charges over the last 10 years is provided in the Data Room.

Debt Finance
The vendor has an existing debt facility with Lloyds Banking Group Plc, which the bank has indicated it may transfer to the purchaser, subject to status.

The terms of the current facility are available on request.

Proposal
Offers for the freehold interest in the Estate
are sought in excess of £4,250,000 (Four Million Two Hundred and Fifty Thousand Pounds), subject to contract and exclusive of VAT.

Alternatively, the vendor may consider a
sale of 100% of the share capital of Chilmark
Estates Ltd, company registration no. 05224264.

VAT
The majority of buildings have been elected for VAT purposes and therefore on the basis of a freehold sale of the property it is anticipated that the transaction will be treated as a Transfer of a Going Concern (TOGC).

Data Room
Comprehensive documentation is contained within a Data Room hosted by the vendor’s solicitors, Parker Bullen.

Please request access to the Data Room via email to the vendor’s sale agents.
Read More

Contact Yeovil Commercial Property

22 Princes Street Somerset Yeovil BA20 1EQ

Meet your Agent

Robert Clark Commercial Property Partner Full Bio 01935 423474 07767 637284
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